The estate of Nancy Hanks reports the following information:

Value of estate assets . . . . . . . . . . . . . . . . . . . . . . . . . $ 8,400,000

Conveyed to spouse . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 700,000

Conveyed to children . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100,000

Conveyed to charities . . . . . . . . . . . . . . . . . . . . . . . . . . . . 420,000

Funeral expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .    50,000

Administrative expenses . . . . . . . . . . . . . . . . . . . . . . . . .    20,000

Debts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .   110,000

What is the taxable estate value?

a. $7,070,000

b. $7,100,000

c. $7,180,000

d. $7,420,000